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Private equity firm MCI Group’s MCI.EuroVentures fund is selling a portion of its shares in Netrisk, an online insurance brokerage in Hungary, to global growth private equity firm TA Associates for EUR55 million (PLN 235 million). As a result of the partial exit, MCI.EuroVentures (buyout fund of MCI Group) has realised a return on investment of 3.0x CoC and 73 per cent IRR.
MCI Group, one of the leading investors in the Central and Eastern European (EU-CEE) region, remains an important investor in Netrisk and is retaining a 23.7 per cent stake in the company to actively help build value for
Marc Wolf, Financial Services Industry Practice Leader for the South and West Region at accounting, tax, and advisory CohnReznick, has been appointed as the Chair of California Alternative Investments
Association (CalALTs).CalALTs is a not-for-profit membership organisation whose members include alternative asset managers, investors and service providers dedicated to the continuing evolution of the alternative asset management industry in California.
“The California Alternative Investments Association (CalALTs) is fortunate to have Marc as our next Chairman. His passion and involvement with the organisation over the last ten years will provide CalALTs with the leadership nd vision to grow and evolve to fit
Options, a provider of cloud-enabled managed services to the global capital markets, has secured a significant growth investment from Abry Partners, a Boston-based sector focused private equity firm. The transaction will enable the firm’s executive team to significantly accelerate its growth strategy, pursue strategic M&A targets, invest further in the firm’s technology platform and expand Options’ reach in key financial centres globally. No further terms of the transaction were disclosed.
Options, founded in 1993 as a hedge fund technology services provider, has expanded rapidly in recent years and now finds itself as an established market leader in outsourced financial technology and managed
Funds managed by Northleaf Capital Partners (Northleaf) have acquired a 90 per cent stake in Douglas Terminals from Hartree Partners (UK) Limited (Hartree) and Ghent Transport & Storage NV (GTS).Douglas Terminals is a 557,000-cubic metre liquid bulk storage terminal based in the Port of Ghent, Belgium. The facility consists of 17 high-quality tanks currently used for the storage of jet fuel, gasoil, diesel and biodiesel. Hartree and GTS started commercial operations at the terminal in 2017. GTS will retain a 10 per cent stake and continue to operate the terminal under a management services agreement. As part of the transaction,
Varagon Capital Partners, a direct lender to middle market companies, is to form a new strategic partnership with Aflac Global Investments (Aflac) and is extending its existing strategic partnership with American International Group (AIG).Upon closing of the new partnership, Aflac will make a new multi-year investment commitment of up to USD3.0 billion to Varagon to invest in middle market loans. Aflac will also acquire a significant non-controlling minority interest in Varagon, creating a mutually-beneficial partnership and demonstrating a commitment to a long-term relationship.
Aflac will acquire the interests in Varagon currently held by certain former and current partners and
Wellington Partners, a European venture capital firm investing in early- and growth-stage life science companies, has appointed Dr Karl Naegler as a Managing Partner, effective 1 January, 2020. Naegler has a strong track record of investments in early and later stage life science companies as well as deep sector knowledge and an extensive global network from over 18 years of industry experience.
Previously, he was a Partner at Gimv, a publicly listed private equity and venture capital investment firm, where he had been responsible for life science investments within Gimv’s Health & Care team, since 2011. He was instrumental in creating
Edinburgh-based biotech startup MiAlgae has received an investment of GBP1 million to focus on the commercialisation of its revolutionary microalgae product, targeting the rapidly growing global aquaculture and pet food industries.The biotech business uses co-products from the whisky distillation process to produce microalgae, which is high in omega 3 and other nutrients. The algae can be used to sustainably feed fish and create animal food. MiAlgae estimates that one tonne of its algae saves up to 30 tonnes of wild fish.
MiAlgae will use the investment to double the size of its business premises, commission a demonstrator plant in East
Optimum Strategic Communications (Optimum), an international strategic healthcare communications firm, has appointed Shabnam Bashir to help build and strengthen its integrated public relations and investor relations offering to clients across the global healthcare industry.Shabnam brings 10 years of experience advising UK and international companies ranging from start-ups to large public organisations across a range of sectors advising on strategy, crises management, IPO and M&A transactions.
Shabnam joins from Citigate Dewe Rogerson (part of Huntsworth Health), where she applied her broad-based experience to support the Life sciences and Healthcare team.
Mary Clark, Managing Director, Optimum Strategic Communications, says: “We
Foresight Group (Foresight) and Williams Advanced Engineering (Williams) have launched a share offer for Foresight Williams Technology Shares, a new share class within Foresight Solar & Technology VCT. The Offer, which opened on 20 December 2019, has a target fundraise in aggregate of GBP20 million and is open to investors for tax years 2019/20 and 2020/2021.
The Foresight Williams Technology Share class represents an exciting investment opportunity made possible by the unique collaboration between Foresight and Williams Advanced Engineering (Williams) which saw the successful launch of the Foresight Williams Technology EIS Fund in 2016. It has thus far raised approximately GBP40
Independent fund and corporate services provider, the Aztec Group, has been selected to provide depositary services to Stafford Capital Partners, an international real assets and private markets investment and advisory group.Serving more than 80 institutional investors across the globe, including the UK, continental Europe, the USA and Australia, Stafford Capital Partners has over USD5.3 billion of assets under management. The firm’s investments span the agriculture and food, credit, infrastructure, private equity, sustainability, timberland and venture capital sectors.
The partnership will see the Aztec Group act as a depositary to 13 investment vehicles and over USD1.9 billion in assets, providing a
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